Costco Wholesale Co. (NASDAQ:COST) Shares Purchased by Corundum Group Inc.

Corundum Group Inc. boosted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 41.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,056 shares of the retailer’s stock after acquiring an additional 607 shares during the quarter. Corundum Group Inc.’s holdings in Costco Wholesale were worth $1,748,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Oak Asset Management LLC boosted its position in shares of Costco Wholesale by 0.3% during the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after acquiring an additional 12 shares in the last quarter. Bedel Financial Consulting Inc. boosted its position in shares of Costco Wholesale by 1.3% during the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after acquiring an additional 13 shares in the last quarter. Boltwood Capital Management boosted its position in shares of Costco Wholesale by 1.7% during the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock worth $671,000 after acquiring an additional 13 shares in the last quarter. LifePro Asset Management boosted its position in shares of Costco Wholesale by 3.8% during the 2nd quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock worth $304,000 after acquiring an additional 13 shares in the last quarter. Finally, Southland Equity Partners LLC boosted its position in Costco Wholesale by 2.3% in the second quarter. Southland Equity Partners LLC now owns 574 shares of the retailer’s stock valued at $488,000 after buying an additional 13 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,970 shares of company stock worth $4,249,526. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Up 1.7 %

Shares of NASDAQ COST traded up $14.64 during mid-day trading on Thursday, reaching $877.35. 1,921,167 shares of the company’s stock traded hands, compared to its average volume of 1,990,293. The stock has a market cap of $388.96 billion, a P/E ratio of 54.36, a PEG ratio of 5.73 and a beta of 0.78. The business has a 50-day simple moving average of $847.94 and a 200 day simple moving average of $780.75. Costco Wholesale Co. has a 1-year low of $530.56 and a 1-year high of $896.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. During the same period in the previous year, the company earned $3.43 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts expect that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup raised their target price on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Truist Financial raised their target price on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Loop Capital raised their target price on shares of Costco Wholesale from $940.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Oppenheimer cut their target price on shares of Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $925.00 target price on shares of Costco Wholesale in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $824.50.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.